“G7 summit” takes place in the UK: Indian PM will participate virtually

What is the News?

Indian Prime Minister will participate in the Outreach Sessions of the G7 Summit in virtual format.

What is G7?

• The G7 (Group of Seven) is an organisation of the world’s seven largest so-called advanced economies. They are Canada, France, Germany, Italy, Japan, the UK and the United States.
  • The European Union is also represented within the G7.
  • Russia joined the Group in 1998 creating the G8 but was excluded in 2014 for its takeover of Crimea.
• The group meets annually to discuss issues such as global economic governance, international security and energy policy.
• The group does not have a formal constitution or a fixed headquarters. The decisions taken by leaders during annual summits are non-binding.

Why is the G7 summit in the UK?

• The UK is holding the G7 presidency for 2021, so this is where the summit is taking place.
• Guest Countries: India along with Australia, the Republic of Korea and South Africa are guest countries for the Summit.
• Theme: The theme for the summit is ‘Build Back Better’
• Priority Areas: The UK has outlined four priority areas for its summit. These are
  • Leading the global recovery from coronavirus while Restrengthening resilience against future pandemics;
  • Promoting future prosperity by championing free and fair trade;
  • Tackling climate change and preserving the planet’s biodiversity; and
  • Championing shared values and open societies.

Is India attending it for the first time?

• Since 2014, this is the second time Indian PM will be participating in a G7 meeting.
• India had been invited by the G7 French Presidency in 2019 to the Biarritz Summit as a “Goodwill Partner”.
• During the earlier Prime Minister Manmohan Singh’s rule, India attended the G8 summit five times.

Read Also :-“G7 Foreign Ministers Summit” Held

Source: Indian Express